Are you an out-of-state landlord?
If you're an out-of-state landlord then you do need a property manager!
Did you know that Rhode Island law (R.I.G.L. 34-18-22.3) requires all non resident landlords to register with the secretary of state's office and the city/town clerk's office where the property is located. This law requires the non resident landlord to provide an in-state agent and in-state address for service of process and notice. The most important provision of the law is the penalty sections for non-compliance. If a landlord does not designate an in-state property manager and file the appropriate paper work, the tenant's obligation to pay rent STOPS until the form is filed. Are you unsure if you are required by the state to have a property manager? Contact me today to discuss your specific case!
Keller Williams Realty of Newport
809 Aquidneck Avenue
Middletown, RI 02842